EXHIBIT 10.62
[RAILWORKS LETTERHEAD]
August 30, 2000
Mr. Xxxx Xxxxxxx
000 Xxxxxxxxxx Xxxx
Xxxx Xxxx, XX 00000
Re: Amended and Restated Employment Agreement, dated Jan. 1, 2000
(the "Employment Agreement")
Dear Xxxx:
It is my understanding that you and the Company have recently agreed
to modify the terms of your employment with RailWorks Corporation. Set forth
below are the changes to the Employment Agreement that reflect these
modifications:
1. The text of Section 1, Employment, is replaced in its entirety by the
following:
"Subject to the terms hereof, Employer will employ Employee and
Employee hereby accepts such employment. The Employee shall serve as
Director, Business Development.
Subject to the terms and conditions of this Agreement, Employee will
devote a mutually agreeable portion of his business time and efforts
in the rail and rail supply industries to the performance of his job
as Director, Business Development, of the Employer; subject to the
direction of the Employer's Vice President, Corporate Business
Development."
2. The text of paragraph 3.1(a), Salary, is replaced in its entirety by
the following:
"As of August 1, 2000, Employee will be paid a salary (the "Base
Salary") of Fifty Thousand Dollars ($50,000.00) per annum, less
deductions and withholdings required by applicable law. The Base
Salary will be paid to Employee in equal monthly installments (or on
such more frequent basis as other executives of Employer are
compensated). The Base Salary shall be reviewed by Employer on at
least an annual basis after August 1, 2000, but may not be decreased
below the Base Salary set forth above as a result of such review."
3. Paragraph 3.1(b) is deleted in its entirety.
Except as set forth above, all terms and conditions of the Employment
Agreement remain unchanged and in full force and effect.
[RAILWORKS LOGO]
If you agree that the foregoing accurately reflects the understanding
between the Company and you, please confirm the same by signing in the space
provided below and returning an executed copy of this letter to me at your
earliest convenience.
Very Truly Yours,
/s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Executive Vice President &
Chief Financial Officer
Agreed this 30th day of August, 2000.
/s/ Xxxx Xxxxxxx
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Xxxx Xxxxxxx
